An "Economic Quality" Scorecard Of The Obama Administration

Tyler Durden's picture

With the US presidential election just 4 months away, focus on tier 1 economic data will become acute, as will headlines blasting top-line data without much, if any, underlying "between the lines" analysis. Which is why we have decided to put together a template of key data series that in our opinion best capture the dramatic shift in the labor composition of the US welfare state under the Obama administration, starting with January 2009. Here are the facts:

  • Total Nonfarm Payrolls have decreased by -1.3 million from December 2008 (134,379K) to June 2012 (133,088); Source: St. Louis Fed
  • Full-time jobs based on the Household Survey, have decreased by 2.5 million from 117,039K to 114,573K; Source: Table A.9, BLS
  • Parti-time jobs based on the Household Survey, have increased by 1.6 million from 26,3187 to 27,894K; Source: Table A.9, BLS
  • Foodstamps recipients have increased by 14.6 million from 31.567 million to 46,187 (as of April 2012); Source: USDA
  • Disability recipients have increased by 1.3 million from 7.427 million to 8.733 million; Source: Social Security Administration

And that, in a nutshell, is how the economy has performed over the past 42 months.


Which, however, is not to say that in addition to millions on foodstamps and disability, and just over a million part-time workers added, the US has little to show for the last three and a half years: as the chart below shows, over the same time period Total Public Debt to GDP has risen from 76.7% to 101.7%, a 25% increase in absolute terms.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
RiotActing's picture

We are fucked no matter who the President is.

cossack55's picture

Presidents are merely rubbers for the FED.  Some have magic fingers.

nope-1004's picture

We are in a depression and this economy has run its course.  Nothing and no one can change the outcome because it's run by the banking cabal.  Obomney are just the puppets.

One simple chart, the food stamp over employment, shows where we are headed.  The rest is just hope you can't believe in.

HoofHearted's picture

"There's no place like hope and change. There's no place like hope and change."

Damn, they robbed me of my silver slippers and gave me these ruby ones instead...guess they look better in Technicolor this way.

DrZuess's picture

It would be helpful if you gave a little more hint as to the reference. I get it. The yellow brick road, Gold, Silver slippers in the original Wizard of OZ. The man behind the curtain.. all very relevant today. If we do not learn the lessons of the mistakes of the past we are destined to repeat them. the wicked witch of the west, Nancy Pelsosi.. I totally get that reference.

It would be helpful if the references were a little more bumpersticker ready since apprently thats how we vote...

I bet the rubies are cubic zirconia ripoffs.. some sort of glass fiat.

zhandax's picture

It would be helpful if the references were a little more bumper-sticker ready since apparently that's how we vote...

and until you get over that, you remain fucked.

The Monkey's picture

Bear market shows up just in time for the election.

Either the Fed does a stick save, or not. Every day that ticks off the calendar pushes the committee into a circumstance not unlike the US Supreme Court.

francis_sawyer's picture

Foodstamp Nation... #WINNING


"Obama will pay for my gas & mortgage"

~Peggy Joseph

ECONOMIC DREAM TEAM (assembled December 2008) ~ History will remember them as one of those gay 1980's boy bands or something...

Gift Whores's picture

No, it gets better.  The always unbiased ABC news reports gas prices will be down - just in time for the election.

thad78's picture

According to the USDA, the food stamp chart also includes disaster assistance: tornado, flood,wildfire, etc..Therefore the chart MAY be a bit misleading...

zhandax's picture

and if you click on that March 30, 2012 disaster footnote at the USDA website, you will find the following applications were approved in 2012:

Total Individual Assistance (IA)
Applications Approved: 266

Total Individual Assistance (IA)
Applications Approved: 281

Total Individual Assistance (IA)
Applications Approved: 1,725

Total Individual Assistance (IA)
Applications Approved: 185

West Virginia:
Total Individual Assistance (IA)
Applications Approved: 505

There are no applications reported approved for Illinois.  Any other gnats need swating?

Everybodys All American's picture

We are screwed because people like Nancy Pelosi continue to believe that food stamps are a stimulus for economic growth. I don't know how in the heck you change that kind of thinking. The sad truth is that she is not alone in that belief and even worse think what kind of nut jobs continue to vote for her in vast numbers.

OutLookingIn's picture

Forget the politicians. They are there to give you the idea that you have freedom of choice. You don't.

Shocker's picture

Scorecard for the last 4 years... looking good.

We have transfered all our jobs, companies overseas. Competition is basically gone, Smaller businesses used to  keep the larger businesses in check.

Continuing down this path, and we will end up with 5-15 companies total.

We need to keep jobs in the US, produce products again and start becoming self relent, vs us importing everything from China

Jobs make or break an economy.

maximin thrax's picture

But wait - what about all those Trillions of bucks in new sovereign debt that the financial industry can monetize? There'll be plenty of money for everyone in no time! You'll see!


Eireann go Brach's picture

It sure fucking helps if the president had some experience of a normal job before becoming CEO of the United States, a Mc Donalds district manager has more management and business experience than O'robyomama!

bob_dabolina's picture

The groomer who shaves the dingle berries off my dog's asshole has more experience.

maximin thrax's picture

Wasn't that Rahm's job descroption when he worked in the White House?

TWSceptic's picture

The same goes for many of the keynesian economists and academics. The country is basically run by unqualified people. Is it any surprise that it is bankrupt?

eatthebanksters's picture

a kenyan POTUS and a keynsian TOTUS...

nmewn's picture

"And so, in the months leading up to graduation, I wrote to every civil rights organization I could think of, to any black elected official in the country with a progressive agenda, to neighborhood councils and tenant rights groups.

When no one wrote back, I wasn't discouraged. I decided to find more conventional work for a year, to pay off my student loans and maybe even save a little bit. I would need the money later, I told myself.

Organizers didn't make any money; their poverty was proof of their integrity. Eventually a consulting house to multinational corporations agreed to hire me as a research assistant. Like a spy behind enemy lines, I arrived every day at my mid-Manhattan office and sat at my computer terminal, checking the Reuters machine that blinked bright emerald messages from across the globe. As far as I could tell I was the only black man in the company, a source of shame for me but a source of considerable pride for the company's secretarial pool. They treated me like a son, those black ladies; they told me how they expected me to run the company one day."

Dreams of my Father - Obama

He has never really wanted "a real job". To him, poverty is proof of integrity? Working in a private corporation is "like a spy behind enemy lines"?

This is the raving lunatic that has been placed into the office of the presidency.

"Overall, the private sector has been doing a good job creating jobs," "The big challenge we have in our economy right now is state and local government hiring has been going in the wrong direction," Obama June 2012 

eatthebanksters's picture

Michelle Obama deactivated her Ilinois bar membership/license and pays a small amount each year to keep it available should she choose to reactivate it and go back to practicing law.  In 2007 Barry 'retired' from the Bar of Illinois; he chose not to pay a small amount to keep it on ice.  The only way he can ever go back to practicing law woud be by taking the bar exam again and passing it again. I don't think Barry like being a lawyer and working long hard hours.  I think Barry has skated on his smile and his charm and his smarts, but the world is figuring him out.   

DanDaley's picture

It sure fucking helps if the president had some experience of a normal job...

Lemonade stands were outlawed in Kenya.

cossack55's picture

Damn your facts.  Feed me lies just like the Banksta/politicians do. 

cherry picker's picture

I keep asking myself, if technology and outsourcing being what it is and if government slashed spending how would the shortfall be accounted for?

Will we be able to put up Taco stands on the side of the road and not be bothered by regulators in order for us to make a buck or two?

tlnzz's picture

Maybe it's time to outsource much of the Government and put them in an unemployment line somewhere.

barliman's picture


Only if you take the Sweeney Todd approach to the regulators.


lemosbrasil's picture

Next week we will see a final round.

SP500 has now a main pivot at 1.356-1.357.

This pivot was a significant pivot in jul-2011 and in last april 2012, when it was broken down .

At Friday, SPP500 broke down intraday 1.356, touched 1.348 and in a fast movement in last 30 minutes, touched again 1.356,  but closed down.

To me, there is just a doubt. 

Or We will see a flash crash in next week like may-2010 or will see a hard movement to down in 2 next weeks

See here:

RiotActing's picture

You can pound your head against charts all day but nothing major is going to happen until after George W. Obama is "re-elected".


francis_sawyer's picture

So there you have it folks... Whip out your fiats & make a killing...

GernB's picture

The rise over the past coupke of weeks has many overlapping waves. It shows a distinct lack of commitment to the upward trend, typically signaled by strong forward moves with non-overlapping retracements. That would lead me to believe it is a correction in a downward trend. Thats not to say it cannot go higher, but the trend still appears to be down. Meaning we will see a fresh crash, its just a matter of time, maybe now, maybe in a few weeks.

Right now it appears to be front running QE3, but conflicted because rallying too much ensures no QE3. The reaction to the employment report was muted, and not likely to precipitate an all out decline to fresh new lows. Further deterioration of the economy could drive the markets up further on hopes of higher QE3 probabilities. The real decline will begin when It becomes clear that the Fed either wont do anything or its actions wont really have much effect. When hope fades that the Fed can fix the equity markets the real decline will begin.

lemosbrasil's picture

this hope fades is already came


francis_sawyer's picture

Technical analysts... They're all the rage...

clagr's picture

Need to show employment participation rate too

ptoemmes's picture

You trying to totally obumm us out?  I guess reality sux

timbo_em's picture

But the S&P 500 looks nice and above all no major financial went bankrupt (even when MF Global seemed to lose a lot of money, JPM showed up and saved that money). Oh and I almost forgot Obama's greatest success story - GM. Yes, we can!

I am Jobe's picture

Bend over for more Hope and Change or Yes we can fuck everyone- Obama Hitlery 2012.

I am Jobe's picture

Time to fire  Congress and the WHore House. No use anymore. Might save some money and heartache.

GOP, Dumbos are all the same. Royally fucked USSA.

ebworthen's picture


But...Obamney or Rombama won't make it better.

Sound money, rule of law, career productive employment.

Part time jobs and food stamps aren't going to do it.

I am Jobe's picture

Sheeples will believe the MSM and lack the critical thinking skills, welcome to Amerika. Fuck this shit already.

EndTheMedia's picture


Anyone who would call into question Obama’s efforts to help the poor must be some rich fat cat or a racist. Besides socialism has been raising the standard of living without exception for decades, one only needs to look at the 20th century to see the concrete evidence.

And anyway who cares if the American population is working part time jobs at Wal-Mart and living off food stamps. The important thing is that the stock market is up and the banks are safe and sound.

Besides any negative aspects of our economy are clearly Bush’s fault.

*end sarcasm.


roadhazard's picture

..."clearly Bush's fault".


He get an extra portion, son.

bob_dabolina's picture

Score Card - Obama:

Education - F

Foreign Policy -D

Healthcare - F

Fiscal Responsibility - F

Race Relations - D

Cabinet Appointees - F

Bombing Countries - A     *consolation prize - Nobel Peace Prize

Unemployment - F


GMadScientist's picture

D's for the beer summit and good use of drones?